Bitcoin Network Achieves 1 Billion Processed Transactions
Bitcoin has officially processed 1 billion transactions, marking a significant milestone in the over 800-week development journey of the first blockchain and the largest in the cryptocurrency industry.
Bitcoin Network Achieves 1 Billion Processed Transactions. Image: CCN
Bitcoin has reached the milestone of 1 billion processed transactions after 800 weeks since the deployment of its Genesis Block on January 3, 2009.
According to data from ClarkMoody, the number of transactions on the Bitcoin network surpassed 1 billion early on May 6, marked by block number 842241.
Total transaction count on the Bitcoin network as of 10:30 AM on May 6, 2024. Source: bitcoin.clarkmoody.com
Amid the emergence of new protocols on the Bitcoin network such as Ordinals and Runes Protocol, which have garnered significant attention in the crypto community, this milestone marks a pivotal moment in the relatively long journey of this pioneering blockchain network. Additionally, the launch of Bitcoin ETFs has bolstered investor optimism about the future development prospects of this leading cryptocurrency.
Comparatively, Ethereum has processed nearly 2.4 billion transactions. Bitcoin took considerably longer to reach the 1 billion mark. However, Bitcoin accelerated its transaction processing speed just weeks after the fourth halving event, averaging 6 transactions per second according to data from Clark Moody's Bitcoin tracker.
